Matthews China Correlations

MCHS Etf

28.41 0.13 0.46%

The current 90-days correlation between Matthews China Discovery and Matthews Emerging Markets is 0.6 (i.e., Poor diversification). The correlation of Matthews China is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Matthews China Correlation With Market

Significant diversification

The correlation between Matthews China Discovery and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Matthews China Discovery and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Matthews China Discovery. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Matthews Etf

0.97	KWEB	KraneShares CSI China	Pair Corr
0.98	FXI	iShares China Large	Pair Corr
0.8	ASHR	Xtrackers Harvest CSI	Pair Corr
0.98	GXC	SPDR SP China	Pair Corr
0.96	CQQQ	Invesco China Technology	Pair Corr
0.98	CXSE	WisdomTree China	Pair Corr
0.92	EWH	iShares MSCI Hong	Pair Corr
0.77	KBA	KraneShares Bosera MSCI	Pair Corr
0.77	CNYA	iShares MSCI China	Pair Corr
0.9	PMBS	PIMCO Mortgage Backed	Pair Corr
0.91	YCL	ProShares Ultra Yen	Pair Corr
0.91	FXY	Invesco CurrencyShares	Pair Corr
0.85	ULE	ProShares Ultra Euro	Pair Corr
0.83	GDXU	MicroSectors Gold Miners	Pair Corr
0.61	CVX	Chevron Corp	Pair Corr
0.62	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.78	MCD	McDonalds	Pair Corr
0.62	PG	Procter Gamble	Pair Corr
0.91	T	ATT Inc Aggressive Push	Pair Corr
0.65	GE	GE Aerospace	Pair Corr
0.71	IBM	International Business	Pair Corr
0.9	KO	Coca Cola Sell-off Trend	Pair Corr
0.81	TRV	The Travelers Companies	Pair Corr

Moving against Matthews Etf

0.45	EWT	iShares MSCI Taiwan	Pair Corr
0.38	SIXD	AIM ETF Products	Pair Corr
0.69	AA	Alcoa Corp	Pair Corr
0.65	DIS	Walt Disney	Pair Corr
0.65	AXP	American Express	Pair Corr
0.64	BAC	Bank of America Aggressive Push	Pair Corr
0.64	HPQ	HP Inc	Pair Corr
0.63	HD	Home Depot	Pair Corr
0.37	BA	Boeing	Pair Corr

Related Correlations Analysis

	MCHS	MEMS	MSSM	NBSM	FFSM	OCFS	FSCS	FSGS	FSMD
MCHS		0.35	-0.71	-0.66	-0.67	-0.78	-0.53	-0.8	-0.66	MCHS
MEMS	0.35		-0.3	-0.18	-0.4	-0.34	-0.27	-0.35	-0.33	MEMS
MSSM	-0.71	-0.3		0.96	0.99	0.97	0.93	0.97	0.99	MSSM
NBSM	-0.66	-0.18	0.96		0.93	0.94	0.96	0.95	0.97	NBSM
FFSM	-0.67	-0.4	0.99	0.93		0.97	0.93	0.96	0.99	FFSM
OCFS	-0.78	-0.34	0.97	0.94	0.97		0.88	0.99	0.97	OCFS
FSCS	-0.53	-0.27	0.93	0.96	0.93	0.88		0.89	0.96	FSCS
FSGS	-0.8	-0.35	0.97	0.95	0.96	0.99	0.89		0.96	FSGS
FSMD	-0.66	-0.33	0.99	0.97	0.99	0.97	0.96	0.96		FSMD
	MCHS	MEMS	MSSM	NBSM	FFSM	OCFS	FSCS	FSGS	FSMD

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

FFSM	+ 0.99	MSSM
FSMD	+ 0.99	MSSM
FSMD	+ 0.99	FFSM
FSGS	+ 0.99	OCFS
OCFS	+ 0.97	MSSM
FSGS	+ 0.97	MSSM

High negative correlations

FSGS	- 0.8	MCHS
OCFS	- 0.78	MCHS
MSSM	- 0.71	MCHS
FFSM	- 0.67	MCHS
FSMD	- 0.66	MCHS
NBSM	- 0.66	MCHS

Matthews China Constituents Risk-Adjusted Indicators

There is a big difference between Matthews Etf performing well and Matthews China ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Matthews China's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MCHS	1.14	0.17	0.17	1.17	1.03	(1.30)	2.90	(1.61)	6.00
MEMS	0.82	(0.01)	0.00	(0.06)	0.00	0.00	1.43	(1.46)	5.25
MSSM	0.94	(0.10)	0.00	(0.14)	0.00	0.00	1.56	(2.55)	4.43
NBSM	0.89	(0.10)	0.00	(0.15)	0.00	0.00	1.33	(1.67)	3.65
FFSM	0.98	(0.08)	0.00	(0.11)	0.00	0.00	1.79	(2.55)	4.82
OCFS	0.96	(0.14)	0.00	(0.19)	0.00	0.00	1.67	(1.86)	5.92
FSCS	0.76	(0.07)	0.00	(0.12)	0.00	0.00	1.37	(1.59)	3.22
FSGS	0.88	(0.13)	0.00	(0.18)	0.00	0.00	1.51	(1.99)	4.23
FSMD	0.83	(0.08)	0.00	(0.13)	0.00	0.00	1.58	(1.79)	4.04

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